Right, but the only way this makes sense for Eli is if he’s paying me less money now than I’ll pay him in the future, and the only way it makes sense for me is if I get to spend the money before the world ends. If I have to put $1.50 into escrow in order to get access to $1, then I’m losing money, not getting it.
You might be able to get it to work with durable assets—if I want to use my car and house up until the world ending, then I can ask Eli to pay me for them now in order to get them after I think the world will end. But it’s not clear this works out any better for the endtimer than taking out a standard 30-year loan that they don’t expect to have to repay.
Right, but the only way this makes sense for Eli is if he’s paying me less money now than I’ll pay him in the future, and the only way it makes sense for me is if I get to spend the money before the world ends. If I have to put $1.50 into escrow in order to get access to $1, then I’m losing money, not getting it.
You might be able to get it to work with durable assets—if I want to use my car and house up until the world ending, then I can ask Eli to pay me for them now in order to get them after I think the world will end. But it’s not clear this works out any better for the endtimer than taking out a standard 30-year loan that they don’t expect to have to repay.
I see. Yes, you point out a valid problem.